12 U.S.C. § 2808
This chapter shall take effect on the one hundred and eightieth day beginning after December 31, 1975. Any institution specified in section 2802(2)(A) 1 of this title which has total assets as of its last full fiscal year of $10,000,000 or less is exempt from the provisions of this chapter. The Bureau, in consultation with the Secretary, may exempt institutions described in section 2802(2)(B) 1 of this title that are comparable within their respective industries to institutions that are exempt under the preceding sentence (as determined without regard to the adjustment made by subsection (b)).
Subject to paragraph (2), the dollar amount applicable with respect to institutions described in section 2802(2)(A) 1 of this title under the 2d sentence of subsection (a) shall be adjusted annually after December 31, 1996, by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers published by the Bureau of Labor Statistics.
The first adjustment made under paragraph (1) after September 30, 1996, shall be the percentage by which-
The dollar amount applicable under paragraph (1) for any calendar year shall be the amount determined in accordance with subparagraphs (A) and (B) of paragraph (2) and rounded to the nearest multiple of $1,000,000.
1 See References in Text note below.
12 U.S.C. § 2808
EDITORIAL NOTES
REFERENCES IN TEXTSection 2802(2) of this title, referred to in subsecs. (a) and (b)(1), was redesignated section 2802(3) of this title by Pub. L. 111-203, title X, §1094(2)(A), July 21, 2010, 124 Stat. 2097.
AMENDMENTS2010-Subsec. (a). Pub. L. 111-203 substituted "Bureau" for "Board". 1996- Pub. L. 104-208 designated existing provisions as subsec. (a), inserted heading, inserted "(as determined without regard to the adjustment made by subsection (b))" before period at end, and added subsec. (b).1992- Pub. L. 102-550, §1604(a)(15), amended directory language of Pub. L. 102-242, §224(a). See 1991 Amendment note below.1991- Pub. L. 102-242, §224(a), as amended by Pub. L. 102-550, §1604(a)(15), struck out "depository" before "institution", inserted "specified in section 2802(2)(A) of this title" after "institution", and inserted at end: "The Board, in consultation with the Secretary, may exempt institutions described in section 2802(2)(B) of this title that are comparable within their respective industries to institutions that are exempt under the preceding sentence."
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111-203 effective on the designated transfer date, see section 1100H of Pub. L. 111-203 set out as a note under section 552a of Title 5, Government Organization and Employees.
EFFECTIVE DATE OF 1992 AMENDMENT Amendment by Pub. L. 102-550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102-242 as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102-550 set out as a note under section 191 of this title.
EFFECTIVE DATE OF 1991 AMENDMENT Pub. L. 102-242, title II, §224(b), Dec. 19, 1991, 105 Stat. 2307, provided that: "This section [amending this section] shall become effective on January 1, 1992."
- consumer
- The term "consumer" means an individual or an agent, trustee, or representative acting on behalf of an individual.
- designated transfer date
- The term "designated transfer date" means the date established under section 5582 of this title.
- Board
- the term "Board" means the Board of Governors of the Federal Reserve System; and
- Bureau
- the term "Bureau" means the Bureau of Consumer Financial Protection;
- Secretary
- the term "Secretary" means the Secretary of Housing and Urban Development.1 So in original. Probably should be "paragraph (5)".